Synchrony Financial announced Margaret Keane, Executive Chair of the Board of Directors of Synchrony has announced her intention to retire effective April 3, 2023. Jeffrey Naylor, who has served on Synchrony's Board since 2014 and has been Synchrony's Lead Independent Director since April 2021, will succeed Margaret and be named Chair of the Board of Directors. Margaret was Synchrony's Chief Executive Officer since 2015 and has served as Executive Chair of the Board since April 2021.

Today's announcement is part of Synchrony's long-term succession planning that ensures a seamless transition of leadership for the company and Board. Naylor has been a member of the Synchrony Board since 2014. He has extensive management and business expertise, including as former Chief Financial Officer and Chief Administrative Officer at the TJX Companies, and as SVP and Chief Financial Officer at Big Lots.

He also serves on the boards of Dollar Tree and Wayfair.